Zevia PBC (NYSE:ZVIA) Receives Average Rating of “Hold” from Analysts

Zevia PBC (NYSE:ZVIA) has earned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.6750.

ZVIA has been the topic of a number of recent research reports. Craig Hallum began coverage on Zevia PBC in a research note on Thursday, January 15th. They issued a “buy” rating and a $4.00 target price on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price objective on shares of Zevia PBC in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th.

Zevia PBC Stock Up 4.0%

NYSE:ZVIA opened at $1.96 on Friday. Zevia PBC has a 52-week low of $1.66 and a 52-week high of $4.75. The stock has a fifty day simple moving average of $2.35 and a 200-day simple moving average of $2.59. The company has a market capitalization of $146.63 million, a PE ratio of -8.89 and a beta of 0.87.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Zevia PBC had a negative net margin of 8.83% and a negative return on equity of 30.61%. The firm had revenue of $40.84 million during the quarter, compared to the consensus estimate of $39.33 million. As a group, equities analysts anticipate that Zevia PBC will post -0.32 earnings per share for the current year.

Institutional Trading of Zevia PBC

A number of hedge funds have recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new stake in Zevia PBC in the 2nd quarter worth about $467,000. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Zevia PBC by 99.9% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 761,700 shares of the company’s stock worth $2,453,000 after acquiring an additional 380,693 shares during the period. Divisadero Street Capital Management LP purchased a new position in shares of Zevia PBC during the 2nd quarter worth about $10,404,000. Hodges Capital Management Inc. acquired a new stake in shares of Zevia PBC in the second quarter worth approximately $734,000. Finally, Bank of Montreal Can purchased a new stake in Zevia PBC in the second quarter valued at approximately $943,000. Institutional investors and hedge funds own 53.21% of the company’s stock.

About Zevia PBC

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.